Adeia (NASDAQ:ADEA) Earns Buy Rating from BWS Financial

BWS Financial reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note released on Friday, Benzinga reports. BWS Financial currently has a $16.00 price objective on the stock.

Separately, Rosenblatt Securities initiated coverage on Adeia in a research report on Friday, February 23rd. They set a buy rating and a $15.00 target price for the company.

Adeia Stock Performance

NASDAQ ADEA opened at $9.97 on Friday. The stock has a market capitalization of $1.08 billion, a PE ratio of 16.90 and a beta of 1.43. The business has a 50 day simple moving average of $11.04 and a two-hundred day simple moving average of $10.67. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. Adeia has a 1-year low of $7.12 and a 1-year high of $13.39.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $86.87 million during the quarter, compared to analysts’ expectations of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. On average, research analysts predict that Adeia will post 1.18 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 2.01%. Adeia’s payout ratio is presently 33.90%.

Hedge Funds Weigh In On Adeia

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in shares of Adeia by 635.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock valued at $25,000 after acquiring an additional 2,028 shares during the last quarter. Highlander Capital Management LLC raised its holdings in shares of Adeia by 267.3% during the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock valued at $26,000 after acquiring an additional 1,518 shares during the last quarter. Carmel Capital Partners LLC acquired a new position in shares of Adeia during the third quarter valued at approximately $33,000. Selway Asset Management purchased a new stake in shares of Adeia in the third quarter valued at approximately $36,000. Finally, EMC Capital Management grew its position in shares of Adeia by 2,732.0% in the third quarter. EMC Capital Management now owns 8,496 shares of the company’s stock valued at $91,000 after purchasing an additional 8,196 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.